Are You Correctly Predicting The Future To Maximize Your Online Revenue?

Pick The Right Companies And Flourish

by in Lifestyle on Apr 16th, 2015

One of the big surprises to come out of blogging was not the realization that I could one day leave my full-time job in finance. That epiphany came when I received an advertising request on my iPhone while chilling at a bar on top of Santorini in the Fall of 2011.

The biggest surprise about blogging is its ability to be a dynamic resume to allow people to pivot into a new career!

One of the big reasons why I wanted to get out of the investment banking industry was because there was a loosening correlation between performance and reward. One would work harder, generate more revenue, and get paid less! That’s demoralizing. Ever since I left the banking world in 2012, there’s been report after report about how XYZ bank is downsizing its departments. I’ve also heard from old colleagues how their compensation continues to get squeezed.

Meanwhile, the consumption of online content continues to explode! Sites like Buzzfeed and Upworthy have come out of nowhere with mega valuations based on aggressive funding. Meanwhile, every week a new blogger is quitting his/her job to blog full-time. I’m bullish on blogging for the next 10 years, and I just wish I started Financial Samurai in 2003 when my father first suggested the idea instead of dilly dallying until 2009.

Financial Samurai now generates enough to put food on the table, without having to aggressively sell anything, work in an office, or report to anyone. It is a dream come true, and every day I thank my lucky stars.

What I’ve discovered is that to grow your revenue online, you’ve got to make educated guesses about the future. Read More

How Important Is Social Media To Your Blog Or Business?

Maximize Your Use Of Time And Money Online

by in Personal Finance on Mar 2nd, 2015

As an online media consultant for several financial technology companies, I’ve been asked to think about existing traffic acquisition strategies and figure out better ways to utilize a company’s time and money to improve returns. I love analyzing data and finding solutions to increase ROI. As a problogger, leveraging my experience building Financial Samurai over the past six years to help other companies grow their brand and traffic online makes sense.

For the longest time, I’ve had a bias AGAINST social media. Who has time to tweet, like, flip, share, and do all that? Social media seriously feels like a huge time sink if you are just a one or two person show. The only platform I really use is Twitter, and even Twitter I feel is not a very good use of my time.

Look at what happens on social media:

* You open yourself up to social flaming wars

* You create stress by always feeling you have to respond to people

* The police come and arrest you once you tell everybody on Facebook you robbed a bank

* Given Facebook’s privacy settings are so confusing, Mark Zuckerberg’s sister didn’t realize the family photo she posted on her Wall was actually accessible to more people than she thought.

* You don’t get that much traffic back to your site, unless your site is really small, or all about social

There is social media overload, and I just don’t have time to run a Facebook page, Pinterest page, Twitter feed, Google+ page, and LinkedIn page to help those sites gain traffic. Instead, I’ve focused all my time just writing content on Financial Samurai and doing the basic social media publishing, but nothing more.

But some people are rockstars at social media and I wonder if it takes a certain type of personality to always be talking about yourself and your work online. I personally get sick of hearing myself speak, which is why I’m constantly looking for other viewpoints.

Let me share with you a spreadsheet I put together on various sites’ traffic figures, social percentage, and social percentage. Let’s see if we can glean any data together. Read More

Leaving A Neuroscience PhD To Build Two Online Businesses

by in Lifestyle on Jun 9th, 2014

My name’s John Accardi. I’m 25 years old and just about 6 months ago, I withdrew from the neuroscience PhD program at Georgetown University. Not only was I on a full scholarship that paid my tuition and lab expenses, but I was receiving a generous stipend as well. So why did I drop out and how did I build 2 profitable online businesses with hardly any startup capital?

Why did I leave Georgetown?

I left for one simple reason: I didn’t like it. In the Neuroscience PhD program, I was required to attend class but the majority of my time was spent doing research at the lab bench. I was working on developing the new technology of optogenetics to treat epilepsy. I’d surgically implant fiber optic cables into the rat brain, in the attempts to alter epileptic neural networks. At times, It was cutting-edge and exciting but mostly it felt limiting. Like most jobs, I had to work for long hours in the same place with the same people, day after day. I also disliked the fact that I needed permission to take any time off, even for something as simple as a doctor’s appointment.

I started to become restless and thought of ways that I could earn a living with a more free lifestyle. I searched for different ways to work for myself and set my own hours. I also wanted the potential to earn more money. After some searching, I became excited about the idea of building an online business. It was so fascinating to me because I knew that an online business could be operated from anywhere in the world. I pictured myself at a condo in Florida, sitting by the pool while managing business from my laptop or phone. Read More

What I’ve Learned From Business Failure

by in Lifestyle on May 8th, 2014

I’m not sure where I first heard the term, “Fail fast and fail often,” but it’s great advice for entrepreneurs. I recently decided to shutdown YakezieNetwork.com after six months of operation because of the following reasons:

1) 99% of affiliate revenue came from one source and I found a streamlined solution.

2) HasOffers was cumbersome to use for reporting purposes. I’m sure part of it has to do with my incompetence. Although I did receive a couple e-mails from other affiliate platforms who moved off HasOffers and onto InfusionSoft.

3) HasOffers isn’t cheap at $279 a month for a startup platform. I asked for a discount, and they said no. I thought they’d throw me a bone just to collect something instead of nothing since all revenue is profit given the software has already been built. But I respect their decision.

4) My partner found a full-time job, which ended up taking up a lot of her time. I was relying on her to manage everything from signing up clients to supporting users to sending out invoices in exchange for a split in revenues. She needed W2 income as she wanted to buy a house. Going through the mortgage process myself, I completely empathize with her as one needs at least two years of entrepreneurial income in order for banks to consider your income real for a loan nowadays.

5) Accounts payable and financial tracking is not something I enjoy. The bigger YakezieNetwork.com got, the more bookkeeping I’d have to do, which started making me unhappy. The obvious solution is to just hire someone to do it for me, but I decided to just minimize the business instead. Once you’ve tasted a lot of freedom from work, it’s more difficult that normal to get back into doing things that are necessary, but painful.  Read More

The Beauty Of Operational Leverage In Running A Business

by in Lifestyle on Dec 9th, 2013

I recently finished up my annual business offsite in Oahu and I wanted to highlight one thing everyone in the blogging business should do once a year.

Calculate your year over year top line revenue growth and compare that figure to your year over year operating profit figure. If you have been growing, hopefully you should see a much bigger operating profit growth rate than your revenue growth rate. This is what we call Operational Leverage in finance.

The internet business is my favorite business because the world is our potential demand curve and our costs are largely fixed. If we are able to grow revenue, more and more of our bottom line profits flows into our pockets as a result. It only costs ~$20 a year to own your domain, $20-$250 a month for web hosting, and $100 – $3,000 a year for maintenance and design work. After that, all other expenses are discretionary.

To give you a simple analogy let’s look at property. If your property is in an upcycle as we are now, every 1% increase in your property price is like a 5% increase in your overall equity if you put 20% down. Property is my absolute favorite asset class to build wealth in an upcycle. In a downcycle, property is a terrible investment and you shift your mindset from being an investor to being an inhabitant. Hopefully everybody has a decent portion of their net worth in risk-free investments to play defense when bad times return.

CONSERVATIVE BUSINESS GOALS CAN CREATE BIG MONEY Read More

How To Make Money Quitting Your Job
  • Asif: I like the way you started the post. I have been using it, since last few weeks to actually review the service,...
  • Untemplater: I completely agree it’s best to promote affiliate products and services that we use ourselves....
  • Barbara Friedberg: I just did a campaign for Draftapp, a new free app to compare your investment returns and fees...
  • steven@buyingstocks: I fully agree that social media is time consuming and that creating valuable content is more...
  • Steven@buyingstocks: I surely will not give up and meeting people with that have succeded surely helps with the...
  • Financial Samurai: Don’t give up. I started seeing some results in the 2nd and 3rd year. Your blog’s...
  • Financial Samurai: Indeed. Focus on the LT. That’s how massive wealth starts to compound.
  • Financial Samurai: You will be even more ecstatic once your web properties make more than your rental income. I...
  • Financial Samurai: I’m definitely a buyer of blogs, especially at levels many people who are burnt out, or who...
  • Financial Samurai: Get there or die trying! :) A blog is not just a money making asset, it is a platform to allow you...

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